Positive Results from Finnish IOCG Project; Northland Likely To Seek Partners

Luxembourg, May 12, 2010  Northland Resources S.A. (TSX: NAU, OSE: NAUR -
"Northland" or "the Company") is pleased to announce the positive outcome of the
Preliminary Economic Assessment (PEA) on its 100%-owned Hannukainen Iron
Oxide-Copper-Gold (IOCG) Project ("the Project") located in northern Finland.
Watts, Griffis and McOuat Limited ("WGM"), Consulting Geologists and Engineers
of Toronto, Canada, was responsible for the overall PEA, and was supported by
Hatch Engineering ("Hatch"), Northland for various aspects of the study and an
international accounting firm was engaged to assist with the development of the
economic model.

"The results of the PEA demonstrate that the Hannukainen IOCG Project has the
potential to be a financially rewarding project with robust operating margins
and high rates of return", said Bill Wagener, Northland's Executive Vice
President - Finland.

"We are pleased that the Company's portfolio now includes two iron projects with
completed PEAs that indicate that the projects are technically and economically
viable; the Kaunisvaara Iron Concentrate Project (Sweden) and now the
Hannukainen IOCG Project (Finland).  The priority of Northland is to complete
the Feasibility Study currently underway on the Kaunisvaara Project and to
secure financing for that project.  With respect to Hannukainen, we will likely
seek partners to participate in the project before proceeding to the Feasibility
Study stage", said Karl-Axel Waplan, President and CEO.

Highlights of the PEA include:

* Using a discount rate of 8%, the Project has a potential Net Present Value
(NPV) of US $471 million, an Internal Rate of Return (IRR) of 32.5% and a
2.4 year payback period from first production.
* Total Operating Cost (OPEX) per tonne of iron concentrate, including Cu and
Au credits, delivered FOB at the port of Kemi, Finland, is estimated to
average US $31.86/tonne for the Life of Mine (LOM), and averages US $26.35
over the first 10 years of operation.  The OPEX figures include contingency,
royalty, transport and port loading.
* Capital expenditure (CAPEX) to first production is estimated at US $371M and
maximum negative cash is US $382M.
* The updated Hannukainen mineral resources contained within a US 110
cents/dmtu (dmtu = dry metric tonne unit) Iron (Fe) price, 15% Fe cut off
and within an optimized pitshell are 101M tonnes Measured and 9M tonnes
Indicated for a total of 110M tonnes grading 33.9%Fe, and 0.17% Copper (Cu).
* The PEA, based on a more conservative Fe pricing assumption of US 85
cents/dmtu, a 20% Fe cut off and within an optimized designed pit identified
75M mineable tonnes of process plant feed at a grade of 35.7% Fe.  This
entire tonnage is classified as Measured and Indicated mineral resources.
* The PEA envisions Hannukainen beginning production in 2014 with an estimated
14 year Mine Life based on the NI 43-101 defined surface mineable mineral
resources at Hannukainen.
* The production rate is planned at 2M tonnes per year of Fe concentrate at
approximately 69% Fe.  In addition, significant value is derived from the
production of a Copper/Gold (Cu/Au) concentrate which is a by-product of the
Fe processing.  The Cu/Au concentrate is estimated to contain 25% Cu and
5.4 grams per tonne Au with 7.7 grams per tonne Au in the early years.  The
LOM average annual Cu/Au concentrate production is 35,000 tonnes per year.
* Additional mineral resources were identified in areas that were not included
in the PEA.  An underground resource at Hannukainen was estimated at 88M
tonnes Inferred mineral resources grading 31.7% Fe at a 20% Fe cut off.  A
new resource was defined at the nearby (4 kms north) Kuervitikko deposit
with Indicated mineral resources of 26M tonnes grading 24% Fe and Inferred
mineral resources of 19M tonnes grading 22% Fe at a 15% Fe cut off.
* WGM completed the mineral resource estimates for Hannukainen and
Kuervitikko.  Hatch, supported by Northland, developed the capital and
operating costs.  Raw Materials Group (RMG) developed the Fe pricing
assumptions and CRU Strategies (CRU) developed the Cu pricing assumptions.
An international accounting firm was engaged to assist with the development
of the economic model.  The final report will be posted on SEDAR within 45
days.


Resources

Hannukainen - The Hannukainen mineral resource was updated with an additional
245 drill holes that have been completed since the initial resource report in
2007.  This exploration and infill drilling increased the total global tonnage
of Hannukainen by 29%. Due to the 50m centered infill drilling, the proportion
of Measured and Indicated tonnage at a 15% Fe cut off also increased by 76% over
the previous 2007 estimate.

The mineral resources for Hannukainen estimated by WGM outline a total of 110MT
of Measured and Indicated mineral resources.  These are stated at a 15% Fe cut
off and are contained within a US 110 cents/dmtu Fe price optimized pit shell.

+-------------------------------------------------+
| Hannukainen Mineral Resource |
| at US 110cents/dmtu and >15%Fe |
+----------------+---------+------+------+--------+
|   | Million | Fe% | Cu% | Au PPB |
| Classification | Tonnes | | | |
+----------------+---------+------+------+--------+
|   |   |   |   |   |
| Measured | 101 | 33.8 | 0.17 | 67 |
+----------------+---------+------+------+--------+
|   |   |   |   |   |
| Indicated | 9 | 35.0 | 0.13 | 23 |
+----------------+---------+------+------+--------+

Utilizing the resource above, the PEA was based on a more conservative US 85
cents/dmtu Fe price, US $2.20/lb Cu price and US $850/oz Au price and identified
75M tonnes of process plant feed averaging 35.7% Fe, 0.19% Cu and 78 PPB Au over
the life of the mine. This entire tonnage was comprised of Measured and
Indicated mineral resources.

Hannukainen Underground - In addition, an underground Inferred mineral resource
of 88M tonnes grading 31.7% Fe, at a 20% Fe cut off, was identified but not
included in the PEA.  The underground tonnage figures shown below are stated at
a higher 20% Fe cut off to reflect additional underground mining costs.

+-------------------------------------------------+
| Hannukainen Underground Mineral Resource |
| at Fe >20% |
+----------------+---------+------+------+--------+
|   | Million | Fe% | Cu% | Au PPB |
| Classification | Tonnes | | | |
+----------------+---------+------+------+--------+
|   |   |   |   |   |
| Inferred | 88 | 31.7 | 0.13 | 41 |
+----------------+---------+------+------+--------+

Kuervitikko - A new mineral resource estimate for the Kuervitikko satellite
deposit, located 4 kms to the north of Hannukainen, has the potential to extend
the operating life of the processing facilities.  The Kuervitikko mineral
resource was not included in the Hannukainen PEA.  The mineral resource estimate
was based on the available historic information and 122 drill holes completed by
the Company and is stated at a 15% Fe cut off which approximates what is
considered potentially economically viable towards the end of the anticipated
Hannukainen mine life.

+-------------------------------------------------+
| Kuervitikko Mineral Resource |
| at Fe >15% |
+----------------+---------+------+------+--------+
|   | Million | Fe% | Cu% | Au PPB |
| Classification | Tonnes | | | |
+----------------+---------+------+------+--------+
|   |   |   |   |   |
| Indicated | 26 | 23.8 | 0.17 | 175 |
+----------------+---------+------+------+--------+
|   |   |   |   |   |
| Inferred | 19 | 21.7 | 0.15 | 165 |
+----------------+---------+------+------+--------+

Note: The inpit mineral resource for the Hannukainen deposit was constrained
within mineralized solids defined by a 12% Fe cut off and within a
Lerchs-Grossman pit shell using the following assumptions; a metal price of US
110 cents/dmtu for magnetite concentrate; US $2.20/lb Cu; US $850/oz Au; slope
angles varying between 35-53 degrees; mining recovery of 98%; mining dilution of
2%; mine operating cost of US $1.75/tonne; process cost, G&A and Transport Cost
of US $11.92/tonne ore; concentrate grade of 68.50%Fe; Recoverable Fe% =
0.003349975* (Fetot - ((0.8645x Cu/10000) + (0.45 x 0.873 x
(S-(Cu/10000x0.9941))) + (0.55 x 1.5 x
(S-(Cu/10000x0.9941)))))^2+(0.90843175*(Fetot - ((0.8645x Cu/10000) + (0.45 x
0.873 x (S-(Cu/10000x0.9941))) + (0.55 x 1.5 x (S-(Cu/10000x0.9941)))))
-6.374900458; Cu% Recovery = 109.77x Cu%_Head + 63.243; Au% Recovery = 246.46 x
Aug/t_Head + 7.1886.

The PEA pit shell was defined using the same assumptions as above however with a
US 85 cents/dmtu Fe price assumption.  The underground mineral resources for
Hannukainen deposit were below the US 110 cents/dmtu Fe price pit shell and
above a 20% Fe cut off.  The Kuervitikko mineral resources were stated using a
15%Fe cut off.

Resource Classification
Resource classification was based on a variety of criteria including quality
assurance and quality control (QA/QC) program verification of data and
protocols, drill hole density and geological continuity.
]
Database Validation
The QA/QC program for Northland's Hannukainen and Kuervitikko drilling consists
of alternating the insertion of a blank or standard sample on a regular basis
within the sample train. Because Northland employs several standards with
varying grades these are also alternated. Also, samples are flagged regularly
for the primary laboratory to prepare a lab duplicate for analysis by a second
laboratory. The ALS Chemex analytical laboratory analyzed the samples in batches
of 81 and each batch has multiple samples for testing for cross contamination
and reproducibility of results.
WGM found that the results of the above described QA/QC program indicates that
Northland's Hannukainen and Kuervitikko assay databases were appropriate for
mineral resource estimation.
Data Verification
Richard Risto P.Geo., WGM Senior Associate Geologist is a Qualified Person as
defined by National Instrument 43-101 and as qualified person completed the
verification of data on which the Hannukainen and Kuervitikko resource estimates
were based. This verification included an assessment of QA/QC data, sample
preparation and assay methodologies, core recoveries, density data, data inputs,
survey data and validation of historic exploration data used in the estimate.
Data was validated by using field checks, statistical methods and evaluating
written protocols.
Qualified Person
Vladimir Benes, Ph.D., Vice President of Exploration for Northland Resources
S.A., is the Qualified Person in accordance with National Instrument 43-101
responsible for overseeing the execution of Northland's exploration programs and
for verifying that the information presented in this news release is an accurate
summary. Dr. Benes is a fellow member of the Australasian Institute of Mining
and Metallurgy (Member #300308). Mineral resources of the Hannukainen and
Kuervitikko projects have been estimated and categorized for reporting purposes
by Mr. Kurt Breede, P. Eng., Vice-President of WGM. Mr. Breede is a Qualified
Person as defined by the National Instrument 43-101 and is an independent
consultant to Northland Resources S.A.

PEA Overview

The PEA modeled the development of the Hannukainen deposit but did not include
the nearby (4 kms north) Kuervitikko resource.  It is anticipated that as
Northland identifies suitable adjacent resources, they will be developed to
provide feed to the processing facility located adjacent to the Hannukainen
deposit.

The PEA commenced in November 2009, with WGM being responsible for the overall
study, supported by Hatch who provided the engineering detail, capital and
operating cost estimates.  Northland provided infrastructure costing and an
international accounting firm was engaged to develop the economic model.  RMG
provided the Fe pricing scenarios and CRU provided a Cu pricing scenario.

PEA Results

Using the Base Case Scenario, the Project has a potential NPV of US $471 million
and an IRR of 32.5%.  The capital payback period is 2.4 years.  The maximum
negative cash position was US $382 million.  A real discount rate of 8% and a
USD/Euro exchange rate of 1.28/1.00 were applied in these calculations.  The
product pricing used is described in the next section.  Sensitivity Analysis on
the Base Case is provided as well.

Capital and Operating Cost Estimates were compiled by Hatch based on information
developed by their teams and as provided by Northland.

Total CAPEX to first production has been estimated at US $371 million. This is
based on the development of the Hannukainen mine with adjacent processing
facilities.  Fe concentrates are transported via pipeline from the processing
facilities to a filter plant and rail loadout facility at the rail head
approximately 11 kms southwest of the mining operation.  Fe concentrate will be
dried at the filter plant for loading on rail and shipment to the Port of Kemi
for vessel loading.  The rail line is presently being upgraded by the Finnish
rail authority to handle up to 3 million tonnes per year of concentrate.
Discussions are ongoing with the Finnish rail authority to increase the rail
capacity to more than 7 million tonnes per year to accommodate both of
Northland's projects in Sweden and Finland.

Total OPEX has been estimated at an average of US $54.72 /tonne of Fe
concentrate delivered Free on Board ("FOB") to the Port of Kemi, Finland, over
the Life of Mine.  However, there are significant credits due to the Cu/Au
concentrate produced in conjunction with the Fe concentrate.  These Cu/Au
credits average US $22.86 per tonne of Fe concentrate over the life of the
mine.  After adjustment for the Cu/Au credits the average OPEX for the Fe
concentrate is reduced to US $31.86 per tonne.  The Cu/Au concentrate averages
35,000 tonnes per year but with significantly higher benefits in the first 4
years.  The capital and operating costs were developed to an accuracy of plus or
minus 30 per cent and include all direct and indirect costs, EPCM costs, and
contingency and accuracy provisions.

The table below shows the Fe concentrates operating costs per tonne delivered
FOB at Port of Kemi after reductions from the Cu/Au concentrate credits.  Total
Operating Cost (OPEX) per tonne of iron concentrate, including Cu and Au
credits, delivered FOB at the port of Kemi, Finland, is estimated to average US
$31.86/tonne for the Life of Mine, and averages US $26.35 over the first 10
years of operation.  The OPEX figures include contingency, royalty, transport
and port loading.  Note that in years 1 through 4 the Cu/Au concentrate revenues
are substantial enough to nearly offset the entire cost of Fe concentrate
production, processing, transportation and port loading.

(see pdf)


The following table shows the year by year value of the Cu/Au concentrate in US
$/dry metric tonne of Fe concentrate.

(see pdf)

The Hannukainen IOCG Project is planned to produce approximately 2 Mtpa of iron
ore concentrate per year and an average of 35,000 tonnes per year of Cu/Au
concentrate based on the PEA design basis maximum feed rate of 6.5 Mtpa.  The
Life of Mine average feed rate is 5.4M tonne per year.  The PEA indicates that
the total Project life will be 14 years and excludes the Kuervitikko satellite
deposit and the Hannukainen underground resources.  The table below shows the
year by year Fe concentrate and Cu/Au concentrate production.

(see pdf)

Product Pricing

Fe Concentrate - The Fe concentrate pricing was developed Raw Materials Group
(RMG).  RMG put forth two pricing scenarios, a High-Point case and a Low-Point
case.  The Base Case pricing used an average of these two price projections.  In
addition, a Stress Test was also modeled based on a flat Fe concentrate price of
US 83 cents/dmtu.  The results of these economic sensitivities are shown in a
table further below.  The table below shows the Fe concentrate pricing scenarios
modeled.  All prices are expressed in nominal dollars.

(see pdf)

Cu/Au Concentrate - The Cu/Au concentrate was valued based on the Cu price
prediction developed by CRU and an Au price of US $850 / ounce flat.  Cu/Au
concentrate is expected to contain 25% Cu and 5.4 Grams per tonne Au with 7.7
grams per tonne Au in the early years, concentrate value was reduced by
transportation costs and industry standard smelting charges.  In the Stress Test
Case, Cu price was reduced to US $1.80 / pound and Au to US $500 / ounce.  In
the Upside case Cu pricing was held flat at US $3.00 / pound and Au at US $1,000
/ ounce.  The table below shows the Cu pricing used in the Base Case.

(see pdf)

Sensitivity Analysis

The following sensitivity analyses have been modelled.

+---------------------------+--------+-------+
| Case Description | NPV(8) | IRR % |
| | US$ M | |
+---------------------------+--------+-------+
|   |   |   |
| Base Case | 471 | 32.5 |
|   | | |
+---------------------------+--------+-------+
|   |   |   |
| RMG Low Point | 366 | 28.2 |
|   | | |
+---------------------------+--------+-------+
|   |   |   |
| RMG High Point | 661 | 37.8 |
|    Cu $3.00 and Au $1,000 | | |
+---------------------------+--------+-------+
|   |   |   |
| Stress Test | -67 | 3.51 |
|    Cu $1.80 and Au $500 | | |
+---------------------------+--------+-------+

Permitting

The PEA provided the development alternatives necessary for submission of the
Environmental Impact Assessment (EIA) Program to the Finnish environmental
authorities.  The submission will be finalized in the near future and delivered
to the authorities for processing.  The EIA process is an interactive process
that includes all stakeholders and the evaluation of alternative site
development options.  Processing time is typically one to two years.

Resources and Mining

The Hannukainen open pit contains mineral resources that may potentially be
mined of 75 million tonnes of iron ore at an average grade of 35.7% Fe with an
overall stripping ratio of 3.6:1 (waste to ore).  The current mining plan will
produce an average of 5.4M tonnes of plant feed per year and remove an average
of 19.2M tonnes per year of waste.

Mining is planned to utilize an all diesel fleet of shovels and 180 tonne
trucks, moving approximately 25 million tonnes of total material per year.
Pre-stripping will be reduced by the ability to start mining in the historic
Hannukainen pit which will also provide sufficient working room to allow full
production in the first year of mining.  Crusher feed will be hauled to the pit
rim, crushed and transported by conveyor to the processing plant.

Mineral Processes

Process development work has been conducted on the Hannukainen resource by
Northland staff and consultants, with all testwork being conducted by SGS
Minerals Services. The resulting flowsheet consists of standard mineral
processing technologies and has proved to be capable of efficiently and
effectively processing the predicted range of feed ore grades. The initial
primary crushing of the feed ore will be done using a gyratory crusher
(currently owned by Northland) before the crushed ore is fed to the
beneficiation plant (summarised in the flow sheet below).  All crushing and
beneficiation work will be conducted at the mine site.

The crushed ore is initially fed to a grinding circuit, consisting of one
semi-autogenous grinding (SAG) mill and two ball mills (in parallel), resulting
in a ground ore with a P(80) of approximately 100µm. The ground ore then passes
into a flotation circuit designed to remove (and subsequently upgrade) the Cu
into a concentrate containing approximately 25% Cu and 5.4 grams per tonne Au
with 7.7 grams per tonne Au in the early years.  The remaining iron-bearing
minerals then pass through three stages of low-intensity magnetic separation
(LIMS) to remove the non-magnetic minerals. The magnetic minerals proceed to a
final flotation stage, designed to remove the pyrrhotite, resulting in an iron
concentrate containing approximately 69% Fe, 2.6% SiO(2), 0.5% Al(2)O(3, )0.6%
MgO, 0.05% S and 0.002% Cu.

The iron concentrate and a combined tailings stream are then pumped in separate
lines to a dewatering plant at Rautavaara. The iron concentrate will be filtered
to a 6% moisture content in preparation for railcar loading for transportation
to the Port of Kemi. The copper concentrate will be filtered to a 10% moisture
content and bagged at the plant site for transport via container to a nearby
smelter. The tailings will be disposed of in the nearby Rautavaara tailings
facility which served as a tailings disposal facility for the historic
operations and has significant remaining storage capacity.


A simplified flowsheet is shown below:

(see pdf)

Infrastructure/Logistics

Transport costs of the iron ore concentrate from the mining area to the end
customer are crucial for the feasibility of the project.  Northland is in close
cooperation with both the Swedish and Finnish transport authorities to develop
an efficient logistic solution for its Swedish and Finnish projects.  The rail
head at Rautavaara is approximately 11 kms southwest of the Hannukainen mine and
processing facilities; this will make a suitable area for the installation of a
filter plant and rail loadout facility.  The location at Rautavaara previously
had an installed rail loadout used by the historic mining operations at
Hannukainen.  While the spur from Kolari to Rautavaara has not been used since
the early 1990's, the rail grade, bridges and most of the track are still in
place.  The cost of refurbishment of the rail line from Kolari to Rautavaara was
assumed to be included in the rail transportation rate.

In support of Northland's Swedish project the Company has been in discussions
with the Port of Kemi and several port operators.  The Company has executed a
Memorandum of Understanding with the Port of Kemi and a Letter of Intent for the
"build-and-operate" of the terminal itself with Kemi Bulk Terminal which is a JV
between Havator and Euroports.  It is assumed in the Hannukainen PEA that the Fe
concentrates would be shipped through the Port of Kemi using the same facilities
developed for the Swedish projects.

The PEA assumes that the power for the project will be supplied via the Finnish
power grid.  Examination of the electricity generation capacity indicates that
sufficient power is available for the facilities.  There may be a need to
upgrade some of the transmission lines and the cost of this upgrade has been
included in the electricity consumption charges.

Development Schedule

A provisional timetable for development of the project is as follows:

+---------------------------------+-------------+
| Feasibility Study Start | August 2010 |
+---------------------------------+-------------+
| Feasibility Study Completion | 2Q 2011 |
+---------------------------------+-------------+
| Commence Basic Engineering | 3Q 2011 |
+---------------------------------+-------------+
| Commence Detailed Engineering | 4Q 2011 |
+---------------------------------+-------------+
| Procurement of Long Lead Items | 1Q 2012 |
+---------------------------------+-------------+
| Commence Site Clearance | 2Q 2012 |
+---------------------------------+-------------+
| Commence Site Construction | 3Q 2012 |
+---------------------------------+-------------+
| Commence Operations Hannukainen | 1Q2014 |
+---------------------------------+-------------+

The NI 43-101 Technical Report in support of the PEA will be filed on SEDAR
(www.sedar.com) and Northland's website within 45 days.

ITmk3 Scoping Study

Separately to, but in parallel with the Hannukainen PEA, Northland conducted a
scoping study to examine the potential viability for operating an ITmk3® iron
making plant, to produce iron nuggets from Fe concentrates.  This facility could
provide a "value added" alternative market for Northland's Fe concentrates.  The
study modeled a production facility located in southern Finland producing Iron
Nuggets from iron concentrates.  Kobe Steel Ltd. of Japan and Midrex
Technologies Inc. (a wholly-owned subsidiary of Kobe Steel Ltd.) of Charlotte,
North Carolina, USA, are the suppliers of the ITmk3® iron making technology and
contributed capital and operating cost data for the study.  In evaluating the
economics of the ITmk3® facility all raw materials including Fe concentrate were
assumed purchased at predicted world market prices.

The results of the Study demonstrate that the ITmk3® Project has the potential
to be a financially rewarding project with robust operating margins and high
rates of return.

Highlights of the study are:
* Using a discount rate of 8% the project has a potential Net Present Value
(NPV) of US $816 million, an Internal Rate of Return (IRR) of 22.8% and a
payback period of 3.9 years from first production.
* The project assumes that there will be a phased development of two of 0.5
million tonne per year units to provide a total output of 1.0 million tonnes
per year of iron nuggets.
* Capital expenditure for first unit is estimated to US $335 million and the
maximum negative cash over the project is estimated at US $530 million. The
CAPEX figures are within a ±30% accuracy and have an inbuilt contingency of
15%.
* Total OPEX per tonne of nuggets is estimated to be US $297. The OPEX figures
are within a ±30% accuracy and have an inbuilt contingency of 15%.

Market reports by Midrex and Raw Materials Group have been used to define a
potential target market in excess of 100 customers within Europe where iron
nuggets could replace the use of either other pig-iron sales or the even larger
market of higher quality scrap.

Cautionary Statements

The effective date of the Hannukainen and Kuervitikko mineral resource estimates
is May 12, 2010. The Fe% presented in the above tables is not meant to imply
recoverable product. Mineral resources for the Hannukainen and Kuervitikko Iron
Projects have been estimated and classified according to the "CIM Standards on
Mineral Resources and Reserves: Definitions and Guidelines (December 2005) by K.
Breede an independent Qualified Person as defined by National Instrument 43-101.
Mineral resources were estimated in conformity with generally accepted CIM
"Estimation and Mineral Resources and Mineral Reserve Best Practices
Guidelines". WGM is not aware of any known environmental, permitting, legal,
title, taxation, socio-economic, marketing or other relevant issues that could
potentially affect the estimate of mineral resources. The mineral resources may
be affected by subsequent assessments of mining, environmental, processing,
permitting, taxation, socio-economic and other factors. There is insufficient
information at this stage to assess the extent to which the resources will be
affected by these factors that are more fully assessed in a feasibility study.
Please note that the PEA is preliminary in nature. There is no certainty the
results of the PEA will be realized.
The quantity and grade of reported Inferred mineral resources in this estimation
are uncertain in nature and there has been insufficient exploration to define
these Inferred mineral resources as an Indicated or Measured mineral resource,
and it is uncertain if further exploration will result in upgrading them to an
Indicated or Measured mineral resource category.

ON BEHALF OF THE BOARD
"Karl-Axel Waplan"
President & CEO
Northland Resources S.A.

For more information please contact:

Karl-Axel Waplan, President & CEO: +46 705 104 239

Anders Hvide, Executive Chairman: +47 92 88 98 58

Patrick Foster, Director Finance: +44 77 101 236 03

Marguerite Manshreck-Head, Investor Relations, Canada: +1 647 224 7882


Or visit our website at: www.northland.eu


CAUTION REGARDING FORWARD-LOOKING INFORMATION

This press release contains forward-looking information within the meaning of
securities laws. Except for statements of historical fact relating to the
Company, certain information contained herein constitutes ''forward-looking
information'' under Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements with respect to mineral reserve and
resource estimates; the ability to realize estimated mineral reserves and to
convert mineral resources into mineral reserves; terms and costs of future
exploration; mineralization projections; receipt of all necessary approvals; the
parameters and assumptions underlying the mineral resource estimates and iron
ore prices. Generally, forward-looking information can be identified by the use
of forward-looking terminology such as ''plans'', ''expects'' or ''does not
expect'', ''is expected'', ''budget'', ''scheduled'', ''estimates'',
''forecasts'', ''intends'', ''anticipates'' or ''does not anticipate'', or
''believes'', or variations of such words and phrases or statements that certain
actions, events or results ''may'', ''could'', ''would'', ''might'' or ''will be
taken'', ''occur'' or ''be achieved''. Forward-looking statements are based on
the opinions and estimates of management as of the date such statements are
made. Estimates regarding the mineral resources, as outlined above and in the
technical report, have been based on knowledge of company management and the
knowledge and experience of third party experts. Forward-looking information is
subject to known and unknown risks, uncertainties and other factors that may
cause the actual results, level of activity, performance or achievements of
Northland Resources Inc to be materially different from those expressed or
implied by such forward-looking information. Although management of Northland
Resources Inc has attempted to identify important factors that could cause
actual results to differ materially from those contained in forward-looking
information, there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that such
statements will prove to be accurate, as actual results and future events could
differ materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking information.
Northland Resources Inc. does not undertake to update any forward-looking
information, except in accordance with applicable

This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)


The press release (including all tables) can be downloaded from the following
link:



[HUG#1415045]





Press Release: http://hugin.info/137015/R/1415045/366324.pdf




Unternehmen: Northland Resources S.A. - ISIN: CA6665271061